Frieze's inaugural Asian edition bets on South Korea

[soryang]

Frieze's inaugural Asian edition bets on South Korea as the region's next major art market
Published 2nd September 2022

CNN Sep 2

The event marks a significant moment for South Korea, which is undergoing something of an arts boom. Amid a wider drive to promote cultural exports like K-pop and TV shows like "Squid Game," new president Yoon Suk Yeol's government recently pledged 4.8 trillion won ($3.5 billion) in support of K-culture content over the next five years.

https://www.cnn.com/style/article/frieze-art-fair-asia-debut-south-korea-2022/index.html

This is so tone deaf. What this reflects is increasing inequality in South Korean society and frankly, corruption. Ordinary people in South Korea are suffering from inflation, a flagging economy, housing shortages, and the impact of natural disasters. Meanwhile, the current president, Yoon Seok-yeol promotes Milton Friedman trickle down economics, austerity, tax cuts for the rich, spending cuts for social welfare, cuts for small businesses damaged by covid restrictions, and cuts in the elderly support programs.

Nevertheless Yoon wishes to direct hundreds of millions of dollars to support what happens to be his wife's business art exhibitions. Patronizing art exhibitions and art purchases are a cover for bribery and corruption in South Korean politics (an illegal form of political sponsorship). I'm sure Yoon's wife and their cronies will benefit from this personally as she has already steered government contracts to businesses associates (allegedly by violating government contract bidding procedures) to renovate the presidential office and the new presidential official residence (the former residence of the Minister of Foreign Affairs) in Hannandong.

Let them eat cake.

[peppertree]

1. I remember sharing some of your chagrin at Yoon's election, soryang

I'm sad to see some of what was feared in fact coming to pass.

Thank you, as always, for your expert and concise updates on South Korea's politics. Here's to better days ahead!

[soryang]

2. Yes, it was a terrible disappointment

The economic effects of the covid epidemic, combined with the out of control housing situation, a speculative bubble accompanied by housing shortages for those most in need, pushed Yoon into office even then by a super thin margin. Here's the man in all his glory:

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(Source-열린공감TV youtube 5.25) The hands of his escorts which appear to be steadying President Yoon on his feet are visible. Their faces are blurred out for privacy and/or security reasons. Typically, identity of non-public figures are protected on Korean media for privacy reasons. Witnesses said Yoon's party ran up a bill of almost 4000 dollars, which represented a 50percent discount at Yoon's favorite five star bar and restaurant "because he's a regular customer."

Someone told me recently that my comments about Yoon and company were partisan and not constructive. I know the US establishment and media think he's wonderful because he seems to buy the US policy line in Asia hook, line and sinker, but some of that is illusory. What is most important is that he's constructing another right wing police state in South Korea, which simply eviscerates the "shared values" line.

Thanks so much @peppertree for your comments. I've tried to promote the positive aspects of Korean culture and society, it's not so rewarding to have to criticize their government. Perhaps with Lee Jae-myung now elected to the Democratic Party leadership, the situation will improve. As soon as he was elected party leader he was summoned to the prosecutors offices to answer for contrived charges most of which have previously proven unfounded. Another concrete example of Yoon's "revenge politics" and abuse of state authority.

[peppertree]

3. You're welcome, soyang.

South Korea's a great and highly developed country - and is more than capable of getting through a flawed administration like Yoon's.

And as you know, everything teaches something.

All the Best to Mr. Lee and the Democrats, and thanks again.